Dentist to fill midtown condo cavity

A new dentist's practice will open in a retail condominium near Grand Central Terminal. The 2,700 square foot space at 5 E. 44th St. was purchased by 2792 Ocean Realty. The price was $2.55 million.

The location will be used as a dentist's office under the name Alpha Dental. The practice is slated to open in the fall.

David Alani and Brian Segall from Robert K. Futterman & Associates represented both the buyer as well as the seller, Vintage Group. “The current economic downturn has opened the door for retailers and professionals to purchase retail condominiums in lieu of paying high escalating rents to landlords,” Robert K. Futterman & Associates executive vice president Jeff Fishman said.

The 20-story, 29,000-square-foot residential property is situated between Fifth and Madison avenues. Alpha Dental will occupy 1,700 square feet on the ground floor and 1,000 square feet in the basement.

Correction: The sale price of the retail condominium was $2.55 million. That figure was misstated in the original story. Also, Brian Segall also worked on the transaction along with David Alani and Jeff Fishman. He was not originally mentioned in the story.

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